British Expats - $50k Tax Bill on Currency Exchange

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- - $50k Tax Bill on Currency Exchange (https://britishexpats.com/forum/new-zealand-83/%2450k-tax-bill-currency-exchange-900112/)

Bo-Jangles

Jul 22nd 2017 9:41 pm

$50k Tax Bill on Currency Exchange

Wow, this is a new one on me:

"...... when the New Zealand dollar strengthens, taxpayers with international mortgages are seen to have made a gain, because - in theory, at least - their New Zealand dollars are worth more to pay their overseas mortgages."

https://www.stuff.co.nz/business/949...she-never-made

MrsFychan

Jul 23rd 2017 12:26 am

Re: $50k Tax Bill on Currency Exchange

:ohmy: think that will catch a lot of people out

LittleGreyCat

Jul 23rd 2017 7:16 am

Re: $50k Tax Bill on Currency Exchange

The NZ Dollar strengthens, so any UKP income she gets after the rental mortgage is paid is worth less, the property is worth less, the mortgage isn't even paid in NZ Dollars and she made a GAIN?

Lies, damned lies, and tax rules.

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